What Is Badger DAO (BADGER)?
Badger DAO is an open-source, decentralized automated organization that is dedicated to building products and infrastructure of simplifying the use of Bitcoin (BTC) as collateral across many smart contract platforms.
The platform is a shared space where the developers, known as Badge Builders, have the ability to collaborate and implement Bitcoin as collateral to as many blockchains as possible. A developer can earn a percentage of the fees and BADGER tokens from the developer mining pool for every implementation. The mainnet was launched on December 3, 2020.
A builder can be a single developer, a group of developers, or even a company. There are no fixed obligations to participation requirements, and anyone can create. The pillars of Badger DAO include the Badger Builders, the community-created products, the Dedicated Badger Operations team, the fairly initial distribution of the BADGER tokens for governance and the fact that all of the code is open-sourced.
Who Are the Founders of Badger DAO?
The founder of Badger DAO is Chris Spadafora. He is a long-term crypto enthusiast, investor, and partner at Angelrock.
What Makes Badger DAO Unique?
Badger DAO has two main products: Sett and DIGG. Badger DAO is a community-driven project; as such, before any products are developed they first need to be pitched to, voted on and approved by token holders.
Sett is a decentralized finance (DeFi) aggregator that has flash loan mitigation measures focused on tokenized BTC through five strategies. Once a user makes a deposit, they can earn a yield as the protocol’s smart contract does the work.
In order to incentivize this participation, farmers that deposit tokenized BTC into the Sett vault earn BADGER and DIGG. Aside from a 0.5% fee, an additional 4.5% is deducted from the profits to cover gas and transaction costs.
DIGG is a non-custodial synthetic Bitcoin on Ethereum’s blockchain that is pegged to the price of BTC with a flexible supply and a re-base function. Its main goal is to remove centralized third parties.
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How Many Badger DAO (BADGER) Coins Are There in Circulation?
Badger DAO (BADGER) has a circulating supply of 7,339,511 tokens as of March 2021 and a maximum supply of 21,000,000 BADGER.
How Is the Badger DAO Network Secured?
Badger DAO has passed the initial audit of its smart contracts by the Zokyo audit team with no critical issues found.
Badger DAO has established a security advisory committee that is composed of white hat hackers that regularly review the project’s ecosystem. Badger DAO also has plans to develop incentives that will reward public peer reviewers and to launch a bug bounty program.
Where Can You Buy Badger DAO (BADGER)?
Badger DAO (BADGER) can be bought or sold on the following exchanges:
If you are new to trading cryptocurrencies, feel free to read our guide on how to buy Bitcoin (BTC) here.